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November 26, 2015 11:36 AM ET

Diversified Consumer Services

Company Overview of 4393074 Canada Inc.

Company Overview

4393074 Canada Inc. owns and operates weight loss and nutrition centers to provide weight loss programs in Canada. The company offers natural health products, multi-vitamin/mineral products, green coffee bean extracts, and probiotics. It also franchises its operations. 4393074 Canada Inc. was formerly known as Herbal Magic Inc. and changed its name to 4393074 Canada Inc. in August 2014. The company was founded in 1996 and is based in Mississauga, Canada. As of July, 11 2014, 4393074 Canada Inc. is under liquidation.

2180 Matheson Boulevard

E #1

Mississauga, ON M4S 1Y5


Founded in 1996





Key Executives for 4393074 Canada Inc.

Chief Financial Officer
Compensation as of Fiscal Year 2015.

4393074 Canada Inc. Key Developments

Herbal Magic May Be Acquired By The Private Equity Firm

Herbal Magic Inc. filed for bankruptcy protection in July 2014, owing creditors more than $77 million. Now, it has a tentative deal to be acquired by the private equity firm founded by Bay Street financier Steven Hudson, Chairman of Herbal Magic and an investor in the ailing chain. On July 25, 2014, the Ontario Superior Court of Justice approved the sale, which is expected to close next week. It did not disclose the purchase price. “Failing the closing of the sale transaction before the end of July, 2014, Herbal Magic will have no cash to fund its business and will have to cease operations before the end of August,” a court filing says. Hudson is not referred to by name in the court documents, but rather as the Chairman of Herbal Magic’s Board of Directors and the “inside bidder.” But “to preserve the integrity of the sales process, procedures were put in place to ensure that the inside bidder (including the parties with an interest therein) did not receive any information not available to the other bidders,” Chief Financial Officer Stephen Brown’s document says. He and then Chief Executive Officer Ted Starkman ran the sale process.

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